In 2005 Azneft Production Association (PA) of the State Oil Company of Azerbaijan (SOCAR) carried out geophysical work for 40bn manats. 28.4bn manats fell to field geophysics, exploration geophysics - 7.8bn manats, scientific-research geophysics - 3.8bn manats. Nevertheless, the work was due to be in larger amount,Trend reports quoting Rovnag Abdullayev, the President of SOCAR, as stating in a news release.
According to SOCAR, in the field geophysics equipment became out of date and should be replaced by new one. There are 4 research vessels in exploration geophysics, which are due to be modernized and provide with appropriate equipment, he added.
One of the major directions of work of geophysicists is to implement the program on development of Azerbaijani fuel and energy sector for 2005-2015. It supposes first search of new perspective structures, revealing of new oil and gas reserves, exploration, modern geophysical search and work on perforation in wells.
According to Abadullayev, some people regard competition with big foreign companies
as unreal, but Azerbaijan has sufficient opportunities for it.
It requires time and investment. Program on development of Geophysics and Geology Department will be drawn up at the decree by the President of the Company. According to Abdullayev, the program is due to include major priority directions in geophysics and development ways of the field. In its return, SOCAR will ensure financing of the program.
Geophysics and Geology Department is due to participate in the tenders of all the Caspian countries, he stressed. At present Azerbaijan is a single country in the regions, which bears special vessels to carry out geophysical work in the sea. The Department is also due to find access to the markets of such countries as Pakistan, Egypt, India, Sudan and others.
Abdullayev said that the Gilavar vessel, belonging to the joint enterprise Caspian Geophysical, is on the shore of Cameroon to carry out three-dimension seismic work. Besides, the Department for Complex Geophysical Exploration and Topography holds preparations for the works in the Turkmen sector of the Caspian Sea.